ECON 4695 Senior Seminar
Analytical Essay
We have now read several different accounts of the origins of the Great Recession and financial crisis of 2008-
2010.
Woods – the Austrian Account
Krugman, Pollin/Minsky – Keynesian Accounts
Foster & Magnoff – Marxian Account
Bernanke – the Fed’s Account
Several of these have offered a unique causal account of this historic economic recession and crisis, i.e.,
each one has identified one (or, in some cases, a handful) of chief culprits or “devils.”
Your 8-10 page essay should explain which of these accounts you find the most compelling. In doing
this, you will also need to explain why you find some of the other accounts less convincing. As
explained, you don’t need to cover every account—merely those you find most interesting or nearly
as compelling.
Finally, you should include one additional add-on paragraph at the end of your essay that reflects
back at your responses to the Initial Devils Survey, i.e., I want you to consider where you stood at
the beginning of this module and where you stand now—at the end. How did your views change (if
at all)?
Your essay should be double-spaced and must include page numbers. Use Calibri or Times New Roman 11-
point font. Use in-text references with page numbers, e.g., (Woods, p. X). Do not engage in long summaries
of the accounts—the bulk of your paper should involve critical reflection on these differing accounts.
Upload your MS Word document using the BB Submission by end-of-day on Friday, June 7th.
